TOKYO — Bank of Japan Gov. Haruhiko Kuroda, who began his second term almost a month ago, now has more than low inflation to battle. He also has to deal with the side effects of the massive amounts of yen that the central bank injected into the financial system during his first term.
A little more than five years ago, Kuroda gave himself a 2% inflation target and promised to get prices rising at that pace within two years. The goal still appears far off.